BURNABY, BC – Telecom retailer Glentel reported a 31% increase in consolidated sales for their 2008 fiscal year, thanks in part to opening 24 new retail stores across Canada.
Consolidated sales for the year ended December 31, 2008 were $289.3 million compared to $221.6 million for the same period of 2007, the company reported.
Its retail division saw same-store activations of mobile phones and other wireless devices increase 17% to $249 million over the previous year in stores that were open in both 2008 and 2007. New smart phone products, such as the BlackBerry Bold, Samsung Instinct, and Apple iPhone, “created excitement and demand in the industry”, said the press release.
Glentel operates its business under the trading names Glentel Wireless, WirelessWave, The Telephone Booth (Tbooth and la cabine T) and Wireless etc.
Sales in its business division of terrestrial narrowband and broadband radio systems, satellite network services, and implementation services were “significantly impacted by the challenging economic times”, amounting to $40.3 million, compared to $41.8 million in 2007.
"We are pleased to report that the company continues to grow and bring customers through its retail channel with products that are being very well accepted by its customers," said Thomas Skidmore, president and CEO, in the release. "We are in an industry segment where consumer expenditures are less likely to be eliminated during an economic downturn. With the strength of the financial health of our company, we are cautiously optimistic of our prospects in 2009."
